By Cristal Cody
Tupelo, Miss., Dec. 5 – IGM Financial Inc. (A//DBRS: A) priced C$250 million of 4.115% 30-year debentures on Tuesday at par to yield 190 basis points over the Government of Canada benchmark, according to a market source and a news release.
BMO Capital Markets Corp. was the bookrunner. TD Securities Inc. was co-lead manager.
Proceeds will be used by IGM Financial to repay upcoming long-term debt maturities and for general corporate purposes.
IGM Financial is a Winnipeg, Man.-based financial services company.
| Issuer: | IGM Financial Inc.
|
| Amount: | C$250 million
|
| Description: | Debentures
|
| Maturity: | Dec. 9, 2047
|
| Bookrunner: | BMO Capital Markets Corp.
|
| Co-lead manager: | TD Securities Inc.
|
| Coupon: | 4.115%
|
| Price: | Par
|
| Yield: | 4.115%
|
| Spread: | 190 bps over Government of Canada benchmark
|
| Trade date: | Dec. 5
|
| Settlement date: | Dec. 7
|
| Ratings: | S&P: A
|
| DBRS: A
|
| Distribution: | Canada shelf
|
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